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Aug 22, 2014
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ECB deserves to lose market’s inflation confidence

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own. 

The case of the euro zone’s vanishing inflation rate has so far stumped European Central Bank President Mario Draghi. Quite rightly, investors’ faith in his ability to do anything about the problem is also evaporating.

Aug 19, 2014
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BHP spin-off won’t appeal to commodity players

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

BHP Billiton plans to spin off unwanted parts of its business into a new company. Aluminium and nickel, whose prices are rising, are among assets which will be parked in the yet-to-be-named organisation. A potentially more focused and nimble mining company might sound like an ideal vehicle for investors who want to follow a rising market. Not so fast.

Aug 18, 2014
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German yield curve is the safest one to play

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

 Bull flattening may sound like an exotic, and rather cruel, sport, but for today’s bond investor, it describes an investment opportunity. Some juicy bear flattening is also available, although it comes with somewhat more risk.

Aug 6, 2014
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Dollar set to take pound’s strong currency title

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Sterling emerged as the currency market strongman over the past year because investors grew increasingly confident the UK would be the first big economy to raise interest rates. The dollar now looks set to wrest the title from the pound.

Jun 18, 2014
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Can sterling hit $2? Only with a perfect storm

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own. 

Sterling has touched $1.70 and is on the brink of bursting ranges which have confined it for five years. Could a resurgent pound return to pre-crisis levels of $2?

Jun 10, 2014
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Euronext IPO will be a tough sell

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Euronext’s initial public offering looks like a tough sell. The European exchanges group is seeking a valuation of between 1.3 and 1.8 billion euros when it floats later this month. Anchor investors have a vested interest in backing the issue. But for other buyers, it is a leap of faith.

Jun 4, 2014
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Central banks abet the complacency they fret about

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

It is commonplace for central bankers to protest against violent price swings, but these days they are concerned that markets are too placid. New York Fed President William Dudley, European Central Bank Governing Council member Ignazio Visco, and Bank of England Deputy Governor Charlie Bean have all recently expressed disquiet about very low volatility. They are right to worry, but in casting blame, policymakers need to look in the mirror.

May 14, 2014
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QE forces investors to applaud M&A

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Equity investors used to punish the shares of companies that launched bids. Their eagerness to see firms spend cash means they are now more likely to applaud such moves. Quantitative easing and low returns explain how it started. A worrying deterioration in credit quality could be how it ends.

May 9, 2014
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ECB abets risky passion for peripheral debt

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

The rally in peripheral euro zone debt seems unstoppable. Thank – or blame – the European Central Bank. Its talk about easing monetary policy, maybe as soon as June, is pushing bond yields to record lows in countries that faced borrowing costs of up to 17 percent a few years ago.

Apr 10, 2014
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Greek bond fever may do economy few favours

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By Swaha Pattanaik

The author is a Reuters Breakingviews columnist. The opinions expressed are her own.

Greece’s first bond in four years has met roaring demand. The 3 billion euro deal suggests past bondholder losses and present economic woes are forgiven and forgotten. But the country still has big problems. Excessive investor enthusiasm could reduce the pressure to reform.

    • About Swaha

      "Swaha is a columnist for Reuters Breakingviews. She has been covering financial markets and policymaking for 22 years, reporting on key economic and monetary milestones and breaking market-moving news. She was responsible for regional FX, bonds and stock market teams as Reuters EMEA Markets editor between 2008 and 2013. She was Senior Economics Correspondent in France between 2005 and 2008, European Economics and Monetary Affairs Correspondent in Brussels between 2001 and 2005 and headed up the Reuters FX reporting desk in London between 1998 and 2001. Swaha previously worked at Bloomberg, Euromoney and IDEA."
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